Tata Elxsi jumped 7.53% to Rs 3275.75 after the company's net profit increased by 9.5% to Rs 115.2 crore on 8.7% rise in net sales to Rs 518.40 crore in Q4 FY21 over Q3 FY21.
The company's net profit rose 40.3% and net sales increased 18.1% in Q4 FY21 over Q4 FY20.
"The growth was led by America and India with both reporting 21.1% QoQ growth while Europe grew by 1.6% QoQ," the Tata Group company said in a statement.
It further added that transportation continued to maintain its growth path with an increase of 3.2% quarter-on-quarter (QoQ), led by strategic deals and new projects in the automotive sector.
Media and communications reported another quarter of steady growth at 5.8% QoQ. Healthcare business delivered another quarter of strong growth at 11.8% QoQ, supported by large deal wins.
EBITDA margin stood at 32.4% in Q4 March 2021 compared with 30.1% in Q3 December 2020.
More From This Section
Tata Elxsi recorded 43.7% jump in net profit to Rs 368.12 crore on 13.4% growth in net sales to Rs 1826.16 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
During the period reported, company generated PBT of Rs 511.90 crore, registering a growth of 45.3% YoY and crossing the 500 crore mark for the first time in the company's history.
Manoj Raghavan, CEO and managing director, Tata Elxsi said: "We continue to execute strongly on our growth aspirations with over 9% QoQ revenue growth in constant currency.
We have added key new customers including a Tier 1 operator and a leading medical devices manufacturer in North America. We have also closed some large deals including a multi-million-dollar deal with a global OEM for an integrated connected vehicle program in one of their key markets that will leverage our IoT platform.
Our design business continues to grow strongly, with improved deal flow and revenues from new deals as well as cross-selling into existing customers for upstream and design-led work."
The company's board has recommended a final dividend of Rs 24 per share for FY21 and a one-time special dividend of Rs 24 per share.
During the quarter, the company reported net headcount of 7362, with industry leading attrition management of 7.4%.
Separately, Tata Elxsi said that the nomination and remuneration committee has recommended the appointment of Gaurav Bajaj as CFO designate with immediate effect. Bajaj will take over as the chief financial officer and key managerial personnel of the company with effect from 1 August 2021.
He will replace Muralidharan HV who will retire from the position on 31 July 2021.
Tata Elxsi is amongst the world's leading providers of design and technology services across industries including automotive, broadcast, communications, healthcare and transportation.
Powered by Capital Market - Live News